Eight shareholding banks report combined profit of $28.93b in 1H

Source:Global Times Published: 2017/8/30 15:48:39

Eight A-share listed banks in China have released interim financial results. In the first half of the year, the combined net profit of the banks reached 190.45 billion yuan ($28.93 billion), or 1.52 billion yuan per day, according to news site thepaper.cn.

China Merchants Bank (CMB) achieved the highest net profit of 39.25 billion yuan in the first half, up 11.43 percent year-on-year, thepaper.cn reported on Wednesday. CMB is also the only shareholding bank to report a double-digit growth in net profit.

CMB is followed by Industrial Bank Co (IBC) with a net profit of 31.60 billion yuan, and Shanghai Pudong Development Bank with 28.16 billion yuan, the report said.

In asset size, IBC is the largest shareholding bank in China with assets of 6.38 trillion yuan, followed by CMB with an asset size of 6.19 trillion yuan, the report noted.

In terms of non-performing loans (NPL), CMB was able to reduce both the amount and ratio of NPLs in the first half. IBC, China CITIC Bank and China Everbright Bank cut their NPL ratio, while Shanghai Pudong Development Bank, China Minsheng Bank, Ping An Bank and Huaxia Bank saw a rise in both the amount and ratio of NPLs, the report noted.


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